❗️ Adam Back Questions Satoshi's Billion-Dollar Fortune and Suggests Key Loss

👤 Cryptographer Adam Back has raised doubts about Satoshi Nakamoto's billion-dollar Bitcoin fortune, suggesting that the absence of movement in early Bitcoins may not be due to intentional inaction. During a speech at the Blockchain Paris Week conference, he stated,

This could have happened. After all, he is human.

📣 Back pointed out that in the early years of Bitcoin, wallet backup was not as reliable and convenient as it is today. Users had to manually save the wallet.dat file containing their private keys, and this backup needed to be regularly updated with active transactions. He noted that not everyone was aware of this requirement, which could have led some early users to lose access to their funds.

💰 The expert also emphasized that the market still does not know for sure how many coins belong to Bitcoin's creator. Common estimates are based on mining pattern analysis, but these conclusions remain mere hypotheses. He reminded that in the first year of the network's existence, participants mined about 2.5 million BTC, with Satoshi's presumed share usually estimated at 500,000 to 1 million BTC.

⚠️ Peter Schiff Warns of Bitcoin's Inevitable Collapse

📉 Economist Peter Schiff has once again warned about the impending collapse of Bitcoin. His warning came at a time when Michael Saylor announced that his company, Strategy, had made one of the largest Bitcoin purchases in its history.

It's already some kind of madness. I wonder how much lower Bitcoin would be right now without all these purchases. This can't go on forever. A crash is inevitable. The more you build a pyramid, the greater the losses will be when it collapses,

the economist wrote.

📌 Schiff's post coincided with Saylor's announcement that Strategy had acquired an additional 34,164 BTC for approximately $2.54 billion at an average price of $74,395 per coin. This latest statement from Schiff aligns with his long-standing position on the flagship cryptocurrency. He has always been known for his pessimistic outlook on this asset. However, this time his criticism is directed specifically at the force he believes is propping up the market - massive corporate accumulation.

💔 Schiff's stance is straightforward. He believes that repeated large purchases are supporting Bitcoin's price, but this cannot continue indefinitely. At the time of writing, Bitcoin had risen to $76,192, increasing by almost 2% over the past day and more than 2% over the past week, according to CoinMarketCap.

📉 Impact of the Investigation Closure on Federal Reserve's Interest Rate Decisions

🔔 Recent developments in the U.S. monetary policy and Federal Reserve System leadership have stirred market expectations. The closure of the investigation into Chairman Jerome Powell is seen as a dual-faceted event that reduces institutional uncertainty while bolstering expectations for interest rate cuts.

🌐 U.S. Attorney for the District of Columbia, Robert Piro, announced the cessation of the investigation regarding Powell's expenditures on construction. Officials stated that Federal Reserve expenditures will continue to be scrutinized by the department's inspector general, but added that the investigation could be reopened if deemed necessary.

📊 Market expectations regarding interest rates have reached significant levels. According to CME's FedWatch data, the probability of the U.S. Federal Reserve lowering the interest rate by 25 basis points by the end of the year is estimated at 76%. In more aggressive scenarios, the likelihood of a 50 basis points cut stands at 21.3%, 75 basis points at 2.2%, and 100 basis points at 0.1%. The probability of no change in interest rates is merely 0.4%.

⚡️ Government Commission to Discuss Cryptocurrency Mining Ban in Moscow and the Moscow Region

🗓 On May 18, the Government Commission for Energy Development will consider the possibility of imposing restrictions on cryptocurrency mining in Moscow and the Moscow region. This was announced by Russian Deputy Minister of Energy Pyotr Konyushenko during the Caucasian Investment Forum, as reported by TASS.

🗣 In early April, Sergey Voropanov, the Minister of Energy for the Moscow Region, emphasized the need to ban mining in the area. He stated that cryptocurrency extraction does not benefit the regional economy and that a ban could have a positive impact in other regions. For instance, authorities in the Irkutsk region have claimed that mining restrictions have "relieved the energy system".

🔍 Following Voropanov's statement, Andrey Maximov, the Director of the Department for Energy Development at the Ministry of Energy, clarified that no requests had been received from the authorities of Moscow and the Moscow region regarding mining restrictions. He noted that for such a matter to be considered by the government commission, the regional head must submit a request.

🔔 Coinbase Announces 14% Workforce Reduction Amid Market Volatility and AI Advancements

📉 Coinbase, the cryptocurrency exchange, has announced a reduction of approximately 14% of its workforce. CEO Brian Armstrong communicated this decision to employees, citing market volatility and the rapid development of artificial intelligence (AI) as the primary reasons.

Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the…

said Armstrong.

📊 Armstrong explained that despite having capital and diversified revenue sources, Coinbase's business remains volatile from quarter to quarter. The company is currently in a market downturn and is seeking to optimize expenses. The influence of artificial intelligence was also highlighted as a significant factor. Armstrong noted that engineers are now able to complete tasks in days instead of weeks, and some processes are being automated. This allows smaller teams to achieve better results.

🔄 As part of its transformation, Coinbase plans to streamline its management structure to five levels, eliminate "pure" managerial roles in favor of a "player-coach" model, form teams focused on AI, and experiment with minimal teams including a "one-person" model.

❗️ Hut 8 Leases AI Infrastructure for $9.8 Billion

🌟 Hut 8 has announced the launch of the first phase of its AI campus, Beacon Point, in Texas. The company has signed a 15-year lease agreement for 352 MW of infrastructure with a base contract value of $9.8 billion, which could extend up to $25.1 billion if all renewal options are exercised. The lessee is an unnamed organization with a high investment rating, planning to use the computing power for large-scale AI model training and inference tasks.

📌 The facility will be built according to NVIDIA DGX architecture standards for gigawatt-level infrastructure. Beacon Point is Hut 8's second AI campus following River Bend, and it operates on an "energy first" model. The company first secures the site and grid connections before entering into lease agreements with clients.

📈 Following this deal, Hut 8's total contracted AI data center capacity has increased to 597 MW, with a combined base contract value of approximately $16.8 billion and an expected average annual net operating income of $1.1 billion. The Beacon Point facility has a total capacity of up to 1 GW, with 352 MW of IT capacity currently commercialized requiring about 500 MW of electricity. The remaining capacity can be used for future project expansions.

⚠️ Coinbase expands USDC reach through Hyperliquid treasury partnership

➡️ Coinbase has become the official USDC treasury deployer on Hyperliquid, strengthening the crypto exchange’s push to expand the stablecoin’s presence deeper into decentralized finance infrastructure. According to a report from ChainCatcher, USDC will now function as an aligned quote asset across the Hyperliquid ecosystem under the new arrangement. Coinbase adds another layer to the partnership as competition intensifies among stablecoin issuers seeking dominance in decentralized trading ecosystems. Hyperliquid’s circulating USDC supply has reached approximately $5 billion, representing a twofold increase from the same period last year.

❗️ The move signals Coinbase’s broader strategy to extend USDC beyond traditional layer-1 and layer-2 blockchain deployments and position the stablecoin more aggressively within DeFi-native trading venues. Hyperliquid has rapidly emerged as one of the largest decentralized perpetual futures exchanges, attracting significant liquidity and trading activity amid growing institutional interest in on-chain derivatives markets.

‼️ The treasury deployment partnership comes as Coinbase continues expanding its stablecoin infrastructure business alongside Circle, the issuer of USDC. In a previous cryptonews story, Coinbase unveiled a Bitcoin yield fund targeting institutional investors outside the United States as part of its broader push into alternative crypto financial products.

🚀 IG Expands Cryptocurrency Offerings in the UK

🌟 Financial giant IG has significantly expanded its cryptocurrency platform in the UK, adding over 50 new digital assets to bring its total offerings to more than 100. This expansion follows the company's approval from regulatory authorities to operate in the cryptocurrency space and includes the launch of swaps, enhanced charting features, and upcoming support for wallet transfers.

📈 The addition of these new cryptocurrencies strengthens IG's trading capabilities amidst increasing competition in the regulated UK cryptocurrency market. The planned wallet transfers will allow clients to manage external assets through their IG accounts.

🗓 On May 13, IG announced the expansion of its cryptocurrency offerings in the UK by adding over 50 additional digital assets. This update increases the available range of cryptocurrencies to more than 100 and introduces the swap feature, updated charting tools, and planned support for wallet transfers for clients.

❗️ This expansion follows the company's registration of crypto assets with the Financial Conduct Authority (FCA) in October 2025. UK clients can now access a wider selection of cryptocurrencies through the company's licensed crypto product. The launch also introduced the swap feature, allowing clients to exchange one cryptocurrency directly for another.

❗️ Nashville freshman Rep pushes Bitcoin reserve bill into law

➡️ Rep. Matt Van Epps told Bitcoin Magazine that the American Reserve Modernization Act of 2026 is a direct reflection of what he sees happening in his own district. “Nashville is one of the nation’s leading Bitcoin hubs,” Van Epps said, pointing to Bitcoin Park, the city’s digital asset community, and the annual Bitcoin conference returning to Nashville in 2027. Van Epps is one of 18 original cosponsors of ARMA, introduced on May 21 by Rep. Nick Begich alongside Democratic co-lead Rep. Jared Golden. The bill would codify President Trump’s March 2025 executive order establishing a Strategic Bitcoin Reserve, giving it statutory permanence that no future administration could reverse with a pen stroke.

⚠️ The bill would place the reserve inside the U.S. Treasury and authorize acquisition of up to 200,000 BTC per year for five years, targeting one million coins. All holdings would be locked for a minimum of 20 years. A separate Digital Asset Stockpile would hold non-Bitcoin digital assets already in federal custody. As cryptonews reported, ARMA builds on the earlier BITCOIN Act framework that Begich introduced with Senator Cynthia Lummis in March 2025. The U.S. government currently holds an estimated 328,372 BTC accumulated through law enforcement seizures, including proceeds from the Silk Road takedown and the 2022 Bitfinex hack recovery.

🔔 Adam Back dismisses BIP-110 censorship claims as fork debate returns

❗️ Mr.Hodl posted a short message placing Roger Ver and GrassFedBitcoin side by side. The post came with screenshots showing Ver’s 2019 claim that BTC had failed on censorship resistance by censoring parts of its community. The second screenshot showed GrassFedBitcoin arguing that BIP-110 critics should engage directly if they believe the proposal is wrong. The account claimed that several Bitcoin discussion spaces had become hard places for supporters to defend the proposal.

➡️ GrassFedBitcoin also said bitcointalk had become quiet, GitHub posts were being marked as spam, and Reddit accounts were being banned for discussing Bitcoin Knots or BIP-110. The account also said the BIP repository allowed the proposal to be discussed and merged. Those claims have not been confirmed by the named platforms in the material reviewed. Still, they pushed the BIP-110 debate back into a wider Bitcoin governance discussion.

❓ Blockstream CEO Adam Back responded by rejecting the idea that BIP-110 was being blocked through a hidden campaign. He argued that the proposal was being ignored because many people had already reviewed it and rejected it.

🔔 ZachXBT flags JuCoin reserves as users report withdrawal delays

📌 Wu Blockchain reported that several users had raised withdrawal issues over the past week. ZachXBT also questioned JuCoin’s reported $511 million reserves, saying much of the value appeared tied to USDC and USDT issued on JuCoin’s own JuChain.

🌐 ZachXBT said multiple users reported problems withdrawing funds from JuCoin. The complaints arrived during a period of added concern around centralized exchange reserves and user access to funds. JuCoin attributed the delays to platform upgrades and restructuring, according to Wu Blockchain. The exchange’s explanation did not fully end concerns because users were also asking about reserve quality.

⚠️ “Multiple users have reported withdrawal issues on JuCoin over the past week,” Wu Blockchain said, citing ZachXBT’s comments. The issue remains developing. There has been no public proof that JuCoin is insolvent, but withdrawal delays often draw fast attention because users depend on exchanges to process funds on demand.